SunTrust Commercial Real Estate, a division of SunTrust Banks, Inc. (NYSE: STI), announced that it has closed the financing for Crawford & Company’s new corporate headquarters in Peachtree Corners, Ga. SunTrust provided a $13.7 million loan to the TPA Group to refinance and proceed with the renovation of an existing building at the site, which will be transformed into Crawford & Company’s new global headquarters.
Crawford & Company is the world’s largest publicly listed independent provider of claims management solutions to insurance companies and self-insured entities with an expansive global network serving clients in more than 70 countries. Crawford is moving its headquarters from Perimeter Center in Atlanta, Ga.
The renovation includes rebuilding the lobby, updating the work space layout and adding additional parking, among other improvements. The new facility is located at 5335 Triangle Parkway in the City of Peachtree Corners in Gwinnett County and is expected to open in November, 2017.
“Crawford & Company is a world class brand and it’s getting a world class headquarters,” said Mark Hancock, senior vice president at SunTrust Commercial Real Estate. “This loan puts the company one step closer toward its move to a new home, and SunTrust is pleased to help light the way to financial well-being for our client.”
The new headquarters represents a shift of 500 jobs from Crawford’s current headquarters to its new campus.
“SunTrust is committed to providing our clients with the financial solutions they need to meet their key business goals,” said Joe Pella, Georgia market manager for SunTrust Commercial Real Estate. “It’s important for commercial real estate companies to have a financial partner that understands their business and is committed to their long-term success.”
SunTrust Commercial Real Estate was the sole lender for the new facility.